We expressly disclaim any obligations to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common shares.
I would also like to remind you that during this call, we may discuss certain non-GAAP financial measures, including adjusted EBITDA, cash available for distribution to common shareholders, normalized net earnings, normalized earnings per share, and normalized converted earnings per share. In regards to such financial measures and for reconciliation of such measures to the most closely comparable U.S. GAAP measures, please refer to our earnings release, which is available on our website.
We will now begin our presentation. Please refer to our webcast presentation slides as provided on our website. In addition, you will find further details regarding our Q1 and the transactions discussed in this presentation in our earnings release issued this morning.
I will now pass the call over to Gerry, who will provide details on our highlights for the quarter.Gerry Wang Thank you very much, Sai. Good morning to everybody. This call will include a discussion of our financial and our operational results, and a progressive dividend policy. Please turn to your Slide 4. I’ll begin by discussing the progress that Seaspan has made in 2011, which we believe has strengthened the company’s position as a leading independent containership charter owner, and have created long-term value for our shareholders. During the first quarter of 2011, Seaspan business continued to operate as expected, and the company posted a strong operational and a financial results. First, our fleet remains fully secured primarily on long-term fixed rate time charters, and we continue to achieve strong utilization. Second, all of our customers continue to perform in accordance with our charter agreement.